Former Credit Suisse Group AG employee David Higgs pleaded guilty to conspiracy related to the intentional mismarking of prices tied to securities including collateralized debt obligations. Another former bank employee, Salmaan Siddiqui, will plead guilty later today, a person familiar with the case said. Switzerland’s second-largest bank said in February 2008 it would take writedowns on asset-backed securities after finding “mismarkings” by a group of traders. The bank said a month later it would write down $2.65 billion after an internal review found pricing errors on residential mortgage-backed bonds and CDOs were ... (full story)